Can Employers Make Us All Richer by Paying Higher Wages?
April 7, 2015
News Article
Can Employers Make Us All Richer by Paying Higher Wages?
Also published in Forbes Mon. April 6, 2015.
What do New York Times editorial writer Paul Krugman and McDonald’s CEO Steve Easterbrook have in common? They both think we can repeal the laws of economics. Or, more precisely, they both think that economics can be ignored altogether.
“We have challenged ourselves as to whether we can do more to make a real difference in the lives of our employees,” says Steve Easterbrook in a full page ad in the Times. Then, he asks “what can McDonald’s—as the restaurant industry leader—do right now?” His answer: give everyone a raise.
